@alan @veronica @pluralistic Inefficient compared to what? I agree they are energy intensive, but they are doing a thing we didn't know how to do before, which is to have computers write, operate, improve, verify programs from natural language prompts (not even just English, but about any human language sufficiently documented).
And while they are indeed energy intensive, the efficiency has been increasing a lot over the last couple years, although it's hard to get clear data, the companies are secretive about it, the massive energy costs seems to be mostly on the training on newer, bigger models, not producing output from the existing ones, and we can run relatively large models, that are doing useful work, today, on customer hardware (admittedly high end).
I think what the VC have missed, is that they won't be able to capture the value created, because their product will be commoditized and run for cheaper on hardware they don't own.
I agree the bubble popping will hurt, yes.